• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
  • Disclaimer
Saturday, December 16, 2023
CryptoBangs.com
Advertisement
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Altcoin
    • NFT News
  • DeFi
  • Blockchain
  • Regulation
  • Shop
  • Blog
  • Calculator
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Altcoin
    • NFT News
  • DeFi
  • Blockchain
  • Regulation
  • Shop
  • Blog
  • Calculator
No Result
View All Result
CryptoBangs.com
No Result
View All Result

IOTA working on Digital Passport Products for Circular Economy

November 2, 2023
in Crypto News
Reading Time: 4 mins read
A A
IOTA working on Digital Passport Products for Circular Economy
ShareShareShareShareShare

Source: Stanslavs – Shutterstock

  • The IOTA Foundation is actively developing Digital Product Passports (DPP) to align with the principles of the circular economy.
  • IOTA has joined forces with Zebra to offer developers and innovators a robust set of tools and capabilities for bolstering trust frameworks and decentralized identities.

The IOTA Foundation has always been at the center of building path-breaking solutions and currently, the team is working on Digital Product Passports (DPP).

The circular economy model involves innovative approaches to handling product data and resources. These resources are now being preserved through processes such as redesigning, re-manufacturing, reusing, and recycling, reflecting a shift in perspective. This is exactly where the Digital Passport Products come into the picture.

The Digital Product Passport (DPP) serves as the primary tool for implementing the new product policy and facilitating a Circular Economy throughout the value chain.

By design, DPPs offer product tracking capabilities and supply information in a machine-readable format. This information also encompasses details about a product’s origin, durability, composition, potential for reuse, repair and disassembly, as well as its end-of-life handling procedures.

Similarly, the DPP data comprises a wide range of information such as technical product details, hazardous materials, manufacturing processes, environmental footprint, key tracking events (e.g., configuration changes, transportation conditions), certificates (warranty, testing, compliance), labels (e.g., EcoLabel), and sustainability information like recycling procedures and recycled content.

IOTA is also confident that through DPPs, they would be facilitating the digitization and tokenization of billions worth of assets on the IOTA blockchain network.

Digital product passports is how we will get billions worth of assets to be digitized and tokenized on IOTA #IOTA

Look at how we have pioneered this use case and are pushing forward real world adoption#RWA https://t.co/lSM2Du6IDL

>> Buy Bitcoin quickly and securely with PayPal, credit card or bank transfer at eToro. Visit Website <<

— Dominik Schiener (@DomSchiener) November 1, 2023

Use Cases for Digital Passport Products

The primary audiences for DPPs are: Market Surveillance Authorities (B2G) for verification of compliance, Customs Authorities (B2G, G2G) to enhance the efficiency of enforcement activities by member states, Consumers (B2C) looking for sustainable purchasing options and safer purchases (e.g., ensuring product authenticity), Businesses (B2B) for various purposes within the value chain.

In a groundbreaking partnership, IOTA and Zebra are offering developers and innovators a range of tools and capabilities to enhance trust frameworks and decentralized identities. These features will revolutionize the way digital identities and verifiable credentials are managed on the IOTA Ledger.

The key offerings include:

  1. Trust Framework Implementation: IOTA and Zebra provide a robust framework for implementing trust frameworks. This is achieved through the use of publicly auditable Decentralized Identities recorded on the IOTA Ledger using Alias Output.
  2. Verifiable Credentials: Users gain the capability to generate and verify Verifiable Credentials (VCs) via the IOTA Identity Framework, adding an extra layer of trust and security.
  3. Node Extensions: A set of REST APIs shall publish and resolve Decentralized Identifiers (DIDs) and public credentials. These extensions also enable the verification of VCs, taking Proof of Inclusion into account.
  4. Zebra-IOTA Edge SDK: The collaboration leverages Zebra’s unique capabilities, including Datawedge, through the Zebra-IOTA Edge SDK. This empowers trust frameworks to utilize Zebra’s features.
  5. Streamlined DPP Deployment: Manufacturers can easily deploy a Digital Product Passport (DPP) represented by a cryptographically verifiable JSONLD document. The integrity of the data is ensured through a digital signature that can be verified via any IOTA Node.
  6. Digital Link Integration: A scanner can discover the DPP through a Digital Link, often accessible via a web link. The DPP can be seamlessly verified through an IOTA Node.

This innovative collaboration between IOTA and Zebra promises to open up new horizons for developers and innovators, offering a comprehensive suite of tools and features to enhance trust and security in decentralized identity management.

Best Crypto Exchange for Everyone

  • Invest in Bitcoin (BTC) and 70+ cryptocurrencies and 3,000 other assets.
  • 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
  • Copy top-performing traders in real time, automatically.
  • Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.


Credit: Source link

Related articles

Taiwan Warns Against Crypto Betting on Presidential Election Amid Investigation!

Taiwan Warns Against Crypto Betting on Presidential Election Amid Investigation!

December 16, 2023
Top 5 Crypto Alternatives Poised to Outshine the Rise of Bonk

Top 5 Crypto Alternatives Poised to Outshine the Rise of Bonk

December 15, 2023
ShareTweetSendPinShare
Previous Post

$1000 in 2020, Is Worth $7.5 Million in November 2023

Next Post

Here’s When Shiba Inu Will Surge by 1,800%

Related Posts

Taiwan Warns Against Crypto Betting on Presidential Election Amid Investigation!

Taiwan Warns Against Crypto Betting on Presidential Election Amid Investigation!

December 16, 2023

Crypto Live NewsAuthor: Mustafa MullaMustafa has been writing about Blockchain and crypto since many years. He has previous trading experience...

Top 5 Crypto Alternatives Poised to Outshine the Rise of Bonk

Top 5 Crypto Alternatives Poised to Outshine the Rise of Bonk

December 15, 2023

The crypto market is currently experiencing a significant rally, with major cryptocurrencies like Bitcoin (BTC) and nascent tokens such as...

Coinbase Launches International Spot Crypto Trading for Investors

Coinbase Launches International Spot Crypto Trading for Investors

December 15, 2023

Coinbase International has launched spot crypto trading for non-US institutional clients. The move seeks to serve derivatives traders with a...

Ride the crypto bull run with Ethereum, Cardano, and eTukTuk

Ride the crypto bull run with Ethereum, Cardano, and eTukTuk

December 15, 2023

While the competitive and dynamic crypto market is currently going through a ‘winter Bull Run,’ it is high time for...

Cronos joins the zkSync hyper-chain network on the Ethereum

Cronos joins the zkSync hyper-chain network on the Ethereum

December 15, 2023

Crypto.com supports Cronos Chain, and the L1 network is now going live on the zkSync hyperchain network. The development takes...

Load More
Next Post
Here’s When Shiba Inu Will Surge by 1,800%

Here’s When Shiba Inu Will Surge by 1,800%

Shiba Inu Forecasted to Hit 2 Cents: Timeline Revealed

Shiba Inu Forecasted to Hit 2 Cents: Timeline Revealed

December 15, 2023
Predicted To Double To $5 Billion

Predicted To Double To $5 Billion

December 14, 2023
200 Million NFTs Shift from Ethereum to Enjin Blockchain

200 Million NFTs Shift from Ethereum to Enjin Blockchain

December 12, 2023
Open Source Justice On Resolvr

Open Source Justice On Resolvr

December 15, 2023
Will It Dethrone Shiba Inu?

Will It Dethrone Shiba Inu?

December 15, 2023
CryptoBangs.com

CryptoBangs.com is an online news portal that aims to share the latest crypto news, bitcoin, altcoin, blockchain, nft news and much more stuff like that.

What’s New Here!

  • Kazakhstan’s Digital Tenge: Triumph in Pilot, Gears for 2024 Enhancements
  • Ripple’s CBDC Forecast Sparks Global Excitement
  • Taiwan Warns Against Crypto Betting on Presidential Election Amid Investigation!
  • Arbitrum Network Faces Major Outage, ARB Token Faces 4% Decline

Newsletter

Don't miss a beat and stay up to date with our Newsletter!
Loading

  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
  • Disclaimer

© 2023 - CryptoBangs.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
    • Altcoin
    • NFT News
  • DeFi
  • Blockchain
  • Regulation
  • Shop
  • Blog
  • Calculator

© 2018 JNews by Jegtheme.

You have not selected any currencies to display
WP Twitter Auto Publish Powered By : XYZScripts.com